The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Resideo Technologies Inc. shares valued at $1,508,465 were sold by Aarnes Robert B on May 25. At $23.03 per share, Aarnes Robert B sold 65,500 shares. The insider’s holdings dropped to 155,081 shares worth approximately $2.43 million following the completion of this transaction.
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As published in a research note from Imperial Capital on November 02, 2022, Resideo Technologies Inc. [REZI] has been rated down from an Outperform to an In-line and the price target has been revised to $27. This represents a 41.85% premium over Thursday’s closing price. Analysts at Morgan Stanley started covering the stock with ‘”an Equal-weight”‘ outlook in a report released in mid March. As of March 11, 2021, ROTH Capital has decreased its “Buy” rating to a “Neutral” for REZI. Earlier on March 03, 2021, William Blair initiated its rating. Their recommendation was “a Mkt perform” for REZI stock.
Analyzing REZI Stock Performance
On Thursday, Resideo Technologies Inc. [NYSE: REZI] plunged -0.82% to $15.70. The stock’s lowest price that day was $14.95, but it reached a high of $15.95 in the same session. During the last five days, there has been a drop of approximately -31.14%. Over the course of the year, Resideo Technologies Inc. shares have dropped approximately -39.68%. Shares of the company reached a 52-week high of $27.46 on 01/05/22 and a 52-week low of $14.95 on 11/03/22. A 50-day SMA is recorded $20.86, while a 200-day SMA reached $22.57. Nevertheless, trading volume fell to 1.43 million shares from 0.64 million shares the previous day.
Support And Resistance Levels for Resideo Technologies Inc. (REZI)
According to the 24-hour chart, there is a support level at 15.12, which, if violated, would cause prices to drop to 14.53. In the upper region, resistance lies at 16.12. The next price resistance is at 16.53. RSI (Relative Strength Index) is 26.88 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.02, which suggests the price will decrease in the coming days. Percent R is at 91.66%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Resideo Technologies Inc. subject to short interest?
Stocks of Resideo Technologies Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 80000.0 shares to 3.92 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 3.84 million shares. A jump of 2.04% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 6.01 of the overall float, the days-to-cover ratio (short ratio) jumped to 6.01.
Which companies own the most shares of Resideo Technologies Inc. (REZI)?
According to BlackRock Fund Advisors filings, the company currently owns 21,909,523 shares, which is about 15.04% of the total REZI shares outstanding. The investor’s shares have appreciated by 378,777 from its previous 13-F filing of 21530746.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $297,219,029. Ariel Investments LLC acquire a 43.11% interest valued at $242.5 million while Boston Partners Global Investors, purchased a 552,224 stake. A total of 195,971 shares of Resideo Technologies Inc. were bought by SSgA Funds Management, Inc. during the quarter, and -196,537 were sold by Ninety One UK Ltd. In its current portfolio, Praesidium Investment Management holds 5,027,758 shares valued at $95.83 million.
In terms of Resideo Technologies Inc. share price expectations, FactSet research, analysts set an average price target of $26.00 in the next 12 months, up nearly 64.25% from the previous closing price of $15.83. Analysts anticipate Resideo Technologies Inc. stock to reach $27.00 by 2022, with the lowest price target being $25.00. In spite of this, 6 analysts ranked Resideo Technologies Inc. stock as an Overweight at the end of 2022.